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Tiffany’s $52,000 Patek Philippe Watch Strategy Draws Client Backlash July 23, 2025 (0 comments)
New York, NY--Tiffany & Co.'s effort to drive high-end jewelry sales by linking access to a limited $52,635 Patek Philippe Nautilus 5711 watch has led to criticism from wealthy clients, FashionNetwork.com via Bloomberg reported.
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Only 170 watches were made. Clients were reportedly encouraged to spend $2–3 million on jewelry for a chance to buy one, with no written guarantees. Some spent heavily and received nothing; others were frustrated by inconsistent promises. While one watch sold for $6.2 million at auction in 2021, prices dropped to around $1.2 million by 2024, per WatchCharts.
The report noted that Patek later closed three of its four boutiques inside Tiffany stores. Some clients pursued legal action or stopped shopping with the brand. Tiffany declined to comment; LVMH expects a 1% revenue dip in its watches and jewelry division.
Learn more in this article on Fashion Network.